Directorship and Bankrupcy
Options
neopagan
Posts: 23 Forumite
Is it legal to take one directors name off the books shortly before becoming bankrupt so that they don't suffer the consequences of being bankrupt. Thus one person takes the brunt?
0
Comments
-
Directors suggest a LTD company. Your question suggests that your understanding of how liability works in this case is not correct.
Details of bankruptcies are public knowledge, as are the details of companies that have been put into liquidation. As you do not appear to know whether it is the company or the individuals that went bust you will have to do more research if you want to satisfy your obvious curiosity. (Gossip is an unreliable source of information)
However, I would bear in mind that your neighbours may not appreciate you sticking your nose in their business so you might want to be prepared for some unpleasantness if you continue to do so.0 -
Someone is quite the detective reading through my previous posts!0
-
Directors wont suffer if a Ltd company goes under, but the creditors will
Directors actually BECOME creditors and will claim wages/expenses from any residue ........ of which there will be none.
"rats.........ship.........sinking" spring to mindNow we all know how it felt to play in the band on the Titanic...0 -
-
Don't flatter yourself. They were consecutive posts on the same board and I was catching up on todays posts. No detective work involved. I assume that you did put them up to be read :-)
Yes of course but I thought I would condense the question down to get a more precise reply. I noticed I was rambling and saying far more than I needed to in the other message.0
This discussion has been closed.
Categories
- All Categories
- 343.3K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 248K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards